This invention is related to variable pitch propellers of the marine type. Several variable pitch propeller assemblies are known in the prior art for use on marine vehicles. These prior are devices are generally extremely complicated and have a considerable number of moving parts which rotate with the propeller hub as it turns in use. Typically, variable pitch propeller assemblies have the propeller hub rotatably mounted on a shaft that is mounted in a housing with a cam or the like positioned inside the shaft and connected by gearing, linkages or the like to rotate the propeller blades in their supporting hub in correspondence to motion of the cam. In structures such as this the cam or the like must slide constantly inside the shaft which produces a great amount of friction and wearing of the cam and other intricately formed machined parts. Some prior art propeller assemblies have the pitch changing mechanism or some portion thereof mounted on the exterior of the propeller hub and lower unit housing. These structures are undesirable because they are easily fouled by foreign objects such as grass, weeds, etc.